Melania trump, wife of America's newly elected President donald trump and soon to be First Lady, has recently launched her own meme coin $MELANIA. The launch of this new cryptocurrency has brought a huge drop in the price of Trump's own meme coin $TRUMP.
Strong impact of $MELANIA
Melania trump launched $MELANIA on 19 january 2025. As soon as this coin was launched, it registered a rise of 24,000 percent to reach $13. With this, its market cap exceeded $13 billion. Melania announced the launch of this new coin on her social media handle and asked traders to buy it.
Fall in the price of $TRUMP
Donald Trump's meme coin $TRUMP was also very much in the news at the time of its launch. Its price increased by up to 300 percent on the first day and its market cap reached $14 billion. But just minutes after the launch of Melania's coin, the price of $TRUMP fell by about 50 percent.
Loss of $7.5 billion
According to reports, the price of $TRUMP meme coin fell by $7.5 billion in just 10 minutes. It is being told that this happened because as soon as Melania trump launched the $MELANIA meme coin, many investors started selling their holdings and investing in the new $MELANIA coin. This led to a huge decline in Trump's meme coin.
Be cautious while investing in cryptocurrency
The cryptocurrency market is volatile and at a time when a new cryptocurrency is launched, it is natural for it to have an impact on the existing token. Experts believe that with the increasing popularity and demand of $MELANIA, the $TRUMP meme coin may face even more competition in the coming times.
click and follow Indiaherald WhatsApp channel